While we are preaching to the choir here in Washington, the more exciting news is that California (and others) are taking a long look at other wine-growing regions as the costs of Calfornia vineyard land increase and the ongoing drought continues.

Panelists at the 23rd Wine Industry Financial Symposium held in Napa this September, predicted that the Pacific Northwest is on its way to becoming “a hotbed of wine property sales,” reports Paul Franson in his article for Wines & Vines (09/2014).

Interestingly, (moderators) compared Cabernet Sauvignon wines from Walla Walla and Napa, and those from Walla Walla score slightly higher in Wine Spectator ratings but average about half the price.

Other Excerpts:

With both Washington and Oregon seeing new interest in vineyard purchases, Washington has had a greater spread of vineyard prices from low to high compared to Oregon because of greater differences in growing conditions and more diverse planting of varieties.

Even at a high of $75,000 to $80,000 per acre for top Oregon AVAs, and Walla Walla and Red Mountain AVAs, the (PNW) has a long way to go before reaching the prices for top California vineyards.